DAX Modestly Higher In Cautious Trade

(RTTNews) - German stocks moved higher on Tuesday, supported by a drop in oil prices amid slightly easing concerns about the Middle East conflict due to fresh diplomatic efforts.

The German market's benchmark index DAX was up 86.47 points or 0.35% at 24,948.14 about a quarter past noon.

Infineon Technologies moved up nearly 3%. Siemens Energy gained 2.8%, while Rheinmetall, Daimler Truck Holding and Hochtief climbed 1.8%-2%.

RWE, Deutsche Post, Commerzbank and Fresenius Medical Care advanced 1%-1.3%. Siemens, Heidelberg Materials, Bayer, Deutsche Bank and MTU Aero Engines gained 0.5%-0.8%.

Scout24 drifted down 2.5%. Munich RE dropped by about 2.3%, while Hannover RE and Brenntag lost 2.2% and 2%, respectively.

Siemens Healthineers, Deutsche Boerse, SAP, Qiagen, Deutsche Telekom, GEA Group and Symrise shed 1%-1.7%.

A report from the Centre for European Economic Research showed Germany's ZEW Indicator of Economic Sentiment rose 15.8 points to 26.3 in July, following a 20.7-point jump in June and well above market expectations of 18. The reading marked the highest level since February.

Meanwhile, the ZEW Current Conditions in Germany increased to -77.60 points in July, compared to -81 points in June and forecasts of -77.8.